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Title : PetroShale Paying Permian Prices For Bakken Acreage -- July 14, 2018
link : PetroShale Paying Permian Prices For Bakken Acreage -- July 14, 2018

PetroShale Paying Permian Prices For Bakken Acreage -- July 14, 2018

An alert reader caught this story; I would have missed it. It's a big story on many levels.

PetroShale will pay $55 million for 1,981 net acres in the Bakken:

• 100% operatorship and held by production
• 19 gross (14.3 net) high quality drilling locations
• will mean a 24% increase in PetroShale's net drilling locations (from 59.5 to 73.8 locations)
• 1,981 net acres of land; represents a 34% increase in company's existing acreage
• average royalty rate: 14%; generally, PetroShale's corporate average is 20%
• includes 550 boepd of low decline, producing assets
• includes undeveloped acreage 
• new acreage located in the core of PetroShale's existing focus area in North Dakota

Permian price paid:

• $55 million / 1,981 net acres = almost $30,000 / acre 

Seller: an independent oil and gas company, not identified in the linked article

PetroShale's current focus: the Mandaree and Antelope oil fields

Existing permits (from "well search," NDIC):

Note: at the sidebar at the right, I do have a link to "Williston Basin Deals."

https://ift.tt/2dZyQXu

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